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Ocwen has been servicing my mortgage since September 2010. I have not been late on my mortgage since Ocwen took over my loan. I check my credit monthly. In October 2010, I asked Ocwen to refinance my mortgage to get a lower rate and was denied. I applied with another company who requested a pay-off quote from Ocwen. After Ocwen received the payoff quote request, they begin reporting incorrect information to the Equifax, Transunion, and Experian. Today, November 24, Ocwen is reporting that I have been 90 days late once in the last 7 years and I was 120 days late in July of 2010. I would like to reiterate that Ocwen acquired my loan in September 2010 and did not have my loan in July 2010 nor was my loan being serviced by them in the last 7 years. So how is it that Ocwen is reporting that I have made late payment to them during the last 90, and 120 days, or the last 7 years. In addtion to the fraudualant late payments reported to the credit bureaus, Ocwen also is reporting incorrect balances on my account in excess of $590, 00. Upon Ocwen acquiring my loan, my balance was $65, 813. Today, Ocwen is reporting the balance on my loan as 657, 813. When contacted, after several minutes of waitting, Ocwen denies reporting negative or late payments for my account to any of the credit bureaus or that my account has a balance of 657, 813. They claim that the Credit Bureaus are reporting incorrectly and they are reportig my account as positive with no negative history. My credit report shows differently. I believe that Ocwen is responsible for fraudulant reporting. Their efforts have prevented me from refinancing my home to obtain lower interest rates as the negative payments have reduced my credit score significatnly, and rasied my debt to ratio stats. As a result I have been denied credit and my rights have been violated. This company raised my mortgage by 100.00 this month even after I requested that they correct the escrow. I provided proof that taxes for my home decreased as it is Homesteaded, however, Ocwen has ignored my request to correct the Escrow account and continues to charge me at the higher 2010 tax amount, therefore increasing my mortgage. Ocwen practices fraudulant reporting in an effort to prevent customers from refinancing, and esculate foreclosure proceedings. This company is not lawful and I have proof thereof. I believe that Ocwen relies on the fact that most people do not check their credit monthly so they place negative information on credit reports causing problems for those looking to refinance to get relief from their unlawful practices. I welcome a Lawsuit against this company. Something must be done to stop them.
The complaint has been investigated and resolved to the customer’s satisfaction.
I am experiencing the same with Ocwen Mortgage. First reporting from Ocwen stated I was late 7 times within a year. I was not late not even once. Due to the incorrect reporting I was denied a refi. I placed the incorrect reporting in dispute with the credit agencies, and now today, I get an updated report that now Ocwen is reporting several years back, which again is incorrect, and my report stares Ocwen stopped reporting in 2013. So now for the last two year, which again my payments always ontime, are not being reported. They suddenly disappeared from Ocwen reporting.
I was discharged under a chapter 7 in May 2014. In Oct 2014 Ocwen approved a SAM loan to save my home. I have made every payment on time since the modification. They continued to report to all 3 credit agencies, after it was discharged. A few days ago they told me they reported in error, cause following the chapter 7, they were not allowed to report a balance or my payments. Now my score has dropped 50 points. I called them today and she said they can still foreclose on my home if I fail to make payments, yet they will not be able to report my payments and or a balance to the credit agencies. What can I do? I appreciate your help. Thank you.
I have personally battled Ocwen on hundreds of foreclosure prevention / loan modification cases. Ocwen is nothing more than a glorified collection agency. They are classified as a non bank loan servicer...which for all practical purposes is a collection agency. They purchase distressed mortgage debt for pennies on the dollar and then seek to collect as much money as possible. Since real estate values have been rising quickly, they have a direct motive to foreclose. The only reason that Ocwen will ever modify a delinquent mortgage is if they feel that they can sell the debt for a higher premium in the future. You will need to force Ocwen to modify or restructure your mortgage debt. We block Ocwen's ability to collect on mortgage debt, by stripping down the validity of the debt and enforcing the FDCPA. Since Ocwen is unable to collect or foreclose, eventually they will cave in an offer a loan modification / loan restructure plan. Enforcing action v. Ocwen, requires filing a series of complex complaints & demands on the federal and state level. Please feel free call my office at 877.297.7011 for more information...or visit TheFreshStartFirm (dot) com.
I am currently researching this topic because I just found out they did it to me too! Ocwen has been peppering our credit report with 30 days here and 60 days here but what got our attention today was when we were turned down for an auto loan. We couldn't figure out why we couldn't get financed because we have good credit so we pulled our report and BAM- 180+ days past due for 10/13. Not only was it completely inaccurate but the report shows us as in good standing for over a year (that's when I discovered all the other little 30 and 90 day reports that were not correct).
After contacting Ocwen and having someone read a screen back to me...so frustrating..I was given a number to fax my bank records, the false credit reports, and what I would like them to do about it to their research department. WTH? I am doing all the dang research! For anyone else that would like the fax number it is: [protected]. Include your loan number, any proof you have of where they went wrong, and be sure to sign it before you fax it to them ATTN: Research Department.
So much for my new car for Christmas! I hope this information helps- I know I have my fingers crossed so I don't have to file a dispute with the credit reporting companies.
I'm having something similar happening to me. They bought my mortgage from another lender and since then, they have been reporting that my mortgage was included in a Chapter 7 Bankruptcy. I've not had a Bankruptcy, nor have I been late on a payment. I've written and called more than I care to remember. Also... When you do get someone on the phone you can't understand them because they are outsourced to India. I've asked to speak to a Supervisor and have been denied. When I called the resolution phone number, I told them I was recording the conversation, and the person told me he would not talk with me if I were recording. Obviously Ocwen has shady business practices and needs to be reported. IS THERE ANYONE WHO CAN HELP?
I am having the same thing happening to me, they have reported me 7 times in this year, and my taxes are not paid until i get called by the tax office or the tax office sends me a letter...what are we gonna do. I can't get another mortage loan because of them and not too many people are going to lend money to a person with this history and they are saying they did NOT report me. As we speak i am sending them all credit reportings of all 3 places of burea's ...THEY NEED TO BE STOPPED. LAWYERS ARE WELCOME TO HELP .
STEPH MILLER